Form 4: Green Thumb Industries Director and 10% Owner Jeffrey Goldman Reports Share Acquisition Under 10b5-1 Plan

Jeffrey H. Goldman, a Director and 10% owner of Green Thumb Industries Inc., reported the acquisition of 10,734 Subordinate Voting Shares on June 1, 2025, as part of a pre-arranged trading plan.

Summary

• Jeffrey H. Goldman, identified as a Director and 10% Owner of Green Thumb Industries Inc. (GTII/GTBIF), reported a change in beneficial ownership.
• On June 1, 2025, Mr. Goldman acquired 10,734 Subordinate Voting Shares.
• The acquisition price for these shares was reported as $0, indicating a grant or award rather than a market purchase.
• Following this transaction, Mr. Goldman directly beneficially owns 1,391,812 Subordinate Voting Shares.
• Additionally, Mr. Goldman indirectly beneficially owns 45,013 Subordinate Voting Shares through the Peter D. Goldman Trust and 294,718 Subordinate Voting Shares through the Amy B. Goldman Trust.
• The transaction was made pursuant to a Rule 10b5-1(c) contract, instruction, or written plan, signifying a pre-scheduled trading arrangement.

Sentiment

Score: 7

Explanation: The acquisition of shares by a director and 10% owner, particularly when it's a grant aligning incentives, is generally a positive signal. The use of a 10b5-1 plan also adds transparency and reduces concerns about opportunistic trading.

Positives

• An insider, Jeffrey H. Goldman, who serves as both a Director and a 10% owner, increased his direct beneficial ownership in Green Thumb Industries Inc. by acquiring 10,734 Subordinate Voting Shares.
• The acquisition at a $0 price typically indicates a share grant or award, which can align management and director incentives with long-term shareholder value.
• The transaction was conducted under a Rule 10b5-1(c) plan, which enhances transparency and suggests a pre-planned, non-opportunistic transaction.

Negatives

• The acquisition price of $0 indicates that the shares were granted or awarded rather than purchased with cash on the open market, which might be viewed differently than a direct cash investment by the insider.

Future Outlook

This Form 4 filing is a report of an insider transaction and does not contain any forward-looking statements or guidance regarding the company's future outlook.

Industry Context

This filing is a standard insider transaction report (Form 4) and does not provide broader industry context or trends. It specifically details a change in beneficial ownership for a director and significant shareholder of Green Thumb Industries Inc., a company operating in the cannabis industry.

Corporate Governance

Related Party Transactions

• Jeffrey H. Goldman holds additional Subordinate Voting Shares indirectly through the Peter D. Goldman Trust (45,013 shares) and the Amy B. Goldman Trust (294,718 shares), indicating beneficial ownership through related family trusts.

Stakeholder Impact

• Shareholders: The increase in direct beneficial ownership by a director and significant shareholder may be perceived positively, as it aligns the interests of a key insider with those of other shareholders, potentially signaling confidence in the company's future.

Key Dates

Keywords

Green Thumb Industries, GTII, GTBIF, SEC Form 4, Insider Trading, Beneficial Ownership, Jeffrey H. Goldman, Subordinate Voting Shares, Director, 10% Owner, Rule 10b5-1